It has been barely two weeks since President William Ruto unveiled the Hustler Fund and the initiative has already been embraced by Kenyans.
The Ksh50 billion fund, targeting Kenyans at the bottom of the pyramid officially went live on November 30, 2022.
Data shared by the President on December 8, 2022, indicated that over Ksh5 billion had been disbursed as loans through the hustler fund.
12.8 million Kenyans have also enrolled on the fund.
The Ministry of Cooperatives And Micro, Small And Medium Enterprises (MSME) Development also shared data, breaking down the number of enrolments per county.
As of December 8, 2022, Nairobi, Kiambu and Nakuru were leading the pack in the highest number of subscriptions.
Nairobi had over a million subscribers, followed by Kiambu County at 624,410 subscribers and Nakuru third at over 450,000.
Other counties with the highest enrollment to Hustler Fund were Machakos, Meru and Kakamega.
Uasin Gishu County was ranked 11th with 261,605 of the locals enrolling to the fund that has been disbursing loans of between Ksh500 and Ksh50,000.
Top 10 counties for enrolment to hustler fund
- Nairobi – 1,072,888
- Kiambu – 624,410
- Nakuru – 450,194
- Machakos – 386,808
- Meru – 371,622
- Kakamega – 325,924
- Kilifi – 321,754
- Kisumu – 299,515
- Mombasa – 284,282
- Bungoma – 281,404
Within the North Rift region, Nandi (193,651) Trans Nzoia County had 176,422 locals enrolled on the fund, Baringo (104,120), Elgeyo-Marakwet (68,757) and West Pokot had 57,665.
The least populated counties of Lamu, Marsabit, Isiolo, Mandera, Samburu, Wajir and Tana River had registered low numbers of subscriptions – all below 60,000.
Bottom 10 counties in subscriptions to Hustler Fund
- Elgeyo Marakwet – 68,757
- West Pokot – 57,665
- Garissa – 57,236
- Tana River – 52,247
- Wajir – 43,377
- Samburu- 37,635
- Mandera- 34,831
- Marsabit- 33,881
- Isiolo- 31,681
- Lamu – 26,950
To enrol on Hustler Fund, one is required to dial *254# using any network after which the loan limit will be generated digitally.
Once a loan limit has been set, you’re ready to borrow, money that is deposited into your mobile money.
Currently, the repayment period for Hustler Fund is 14 days, with an interest rate of 0.002 per cent per day.
